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The Federal Reserve controls outright only one Interest Rate in the economy. The one banks use to lend to each other overnight, or the fed funds rate. The prime rate is tied to the fed funds rate and many consumer loans and credit cards are tied to the prime rate. With a higher rate, the fed tries to slow down the economy. With a lower rate, it tries toy s toies toy s toies to stimulate the economy. Thats what the fed did with excessive cuts during the financial crisis of 2007. It slashed rates to the zero, with a bin for nearly seven years. Raising rates this time will be complicated. When th...

Widely telegraphed, but its important, nonetheless. Well get to what it means for your money in just a moment. First, economics reporter Steve Liesman explains just how a fed rate hike works. Reporter it was the predawn of the modern age. Twitter didnt exist. There was neither iphone nor ipad. The year, 2006. It was the last time the Federal Reserve raised Interest Rates. So its not embarrassing to ask, what exactly is a fed rate hike . The Federal Reserve controls outright only one Interest Rate in the economy. The one banks use to lend to each other overnight, or the fed funds rate. The prim...

Vai. Were following breaking news in philadelphias olney neighborhood. Crews made quick work of a fire there and now the investigation into what sparked the flames is beginning. Matt delucia is following the breaking developments from the scene. What can you tell us . Reporter vai, firefighters have been going in and out of this row home here for the past couple of hours. You can see this is fifth street at rockland. Firefighters are still out here, the street is blocked off. Its the home right there, the tall one there, the threestory home there in the middle there. There are store fronts to ...

Important, nonetheless. Well get to what it means for your money in just a moment. First, economics reporter Steve Liesman explains just how a fed rate hike works. Reporter it was the predawn of the modern age. Twitter didnt exist. There was neither iphone nor ipad. The year, 2006. It was the last time the Federal Reserve raised Interest Rates. So its not embarrassing to ask, what exactly is a fed rate hike . The Federal Reserve controls outright only one Interest Rate in the economy. The one banks use to lend to each other overnight, or the fed funds rate. The prime rate is tied to the fed fu...

On the money starts right now. Announcer this is on the money. Your money, your life, your future. Now, becky quick. For the first time in nearly a decade, the Federal Reserve bank is raising Interest Rates. Its not a big move and it was widely telegraphed, but its important, nonetheless. Well get to what it means for your money in just a moment. First, economics reporter Steve Liesman explains just how a fed rate hike works. Reporter it was the predawn of the modern age. Twitter didnt exist. There was neither iphone nor ipad. The year, 2006. It was the last time the Federal Reserve raised Int...